NEW YORK (AP) — Energy company ConocoPhillips says it is cutting around 1,810 jobs, or 10 percent of its workforce, following a plunge that took oil prices to their lowest levels in years.
The company says the biggest proportion of the job cuts will be in North America. ConocoPhillips plans to eliminate more than 500 jobs in Houston, where it is based.
In a news release, ConocoPhillips said it's making the cuts because the energy industry is in a "dramatic downturn."
ConocoPhillips has already eliminated 1,000 jobs this year and had 18,100 employees on June 30.
It will mean a loss of jobs at Bartlesville. However, no exact numbers have been released.